The Kaduna State Government has signed a Memorandum of Understanding with some local investors and developers for the construction of 16 new markets and 14 neighbourhood centres in Zaria, Kafanchan, and the state capital, Kaduna.
Speaking at the signing ceremony, which took place at the Council Chambers of the Governor’s Office, Governor Nasir El-Rufai described the development as another milestone in his administration’s quest to modernise major cities in the state and create more jobs.
The decision by the state government to build new markets is because the few existing ones are dilapidated and insufficient for the huge population of the state, especially in the urban areas.
The Public-Private Partnership is expected to generate about N60bn worth of investments and create thousands of jobs in the state when completed.
According to Governor El-Rufai, the urban renewal process is a state initiative that seeks to use private sector players as drivers to improve the economy of the state.
He added that the initiative would boost the development of small scale businesses and also enable small scale business operators own shops with ease by putting in place an instalment plan that would spread over a period of 20 years.
The Kaduna State Government’s urban renewal initiative in partnership with private investors is aimed at modernising the markets, improve shopping experience and safety of residents, among other things.